AGRIndex – June Review

AGRIndex – June Review

The FINANCIAL -- In June 2018, the AGRIndex declined by -2.54%. The main driver of this change was a -16.0% fall in VEGETABLE prices. FRUIT (-8.0%) prices also fell significantly, while MEAT (-0.1%) prices were practically unchanged, and DAIRY products gained +1.9% of their May 2018 prices.

In y/y terms, after a steady decline since last November, the gap between the current AGRIndex and its 12-month-old counterpart widened again and reached +2.49% in May 2018.

Highest increase: In June 2018, and likewise in the previous month, citrus fruits were the biggest price-gainers. Orange prices increased by almost 17%, while lemon prices increased by nearly 15%. Furthermore, in total, in the last 12 months, lemon prices have added almost half to their June 2017 values, probably due to the sharp drop in production (1.4 thousand tons in 2017, versus 3.0 thousand tons in 2016, according to GeoStat).

Highest drop: In June 2018, compared to May 2018, domestically produced peaches and nectarines each lost about two-fifths of their May values as these stone fruits entered the high harvesting season, and other main seasonal fruits (substitutes for peaches and nectarines), like watermelon, other melons, and cherries, are also widely available on the market.